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| 1 |
ID:
182527
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| Summary/Abstract |
The present article analyzes the debt–economic growth nexus in African countries while controlling for the impact of good governance indicators. In contrast to a long tradition of scholarship that has consistently suggested that government debt has a detrimental impact on economic growth in sub-Saharan Africa, recent studies have actually shown that government debt, when coupled with improvements in the quality of government, is actually a driver of economic growth. By analyzing an original dataset that covers the 2002–15 period and additional debt–economic growth data going up to the year 2020, we are able to suggest three conclusions. First, in the absence of debt, good governance matters in improving economic growth. Second, some dimensions of governance are better predictors of economic performance than others—as the “good enough governance” literature has in recent years suggested. Third, under no circumstances is debt government growth beneficial for the economic performance of African countries. Building on this evidence, we suggest that the COVID-19 pandemic—which has already slowed down African economies and increased their debt exposure—may prevent African countries from making greater progress along the developmental path.
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| 2 |
ID:
182515
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| Summary/Abstract |
Africa has experienced over a decade of sustained economic growth. However, since the outbreak of Ebola, there have been pertinent questions as to whether and what extent such outbreaks have developmental implications in the continent. It is in this context that this article investigates whether and to what extent the ongoing COVID-19 pandemic affects the development of Africa’s economies. Using data from various international organizations, we show that the pandemic has indeed slowed down African economies, albeit in differing degrees across various regions of the continent. However, the slowdown is moderate compared with economies in high-income countries and the world economies as a whole. We contend that while it is difficult to predict when the crisis is going to end, the continent can navigate itself out of it by leveraging on the ever-increasing global prices of agricultural products and natural resources.
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| 3 |
ID:
168060
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| Summary/Abstract |
This study assesses Sino-African cooperation with a view to understanding its nature and subsequently identifying ways to improve it. Using a mixed method that combined in-depth interviews, Afrobarometer, and Johns Hopkins’ China Africa Research Initiative (CARI) data, I find that, despite a few gains, China takes the lion’s share of benefits from the cooperation. Indeed, the balance of trade is skewed toward China, and there is very little Chinese foreign direct investment (FDI) flowing to Africa. Moreover, ‘debt trap diplomacy’ is crippling African economies, raising alarm over whether China intends to recolonize the continent. Also, while Chinese aid is negligible, the amount of contracts revenues and diplomatic support it gets from the continent makes one think Africa deserves more from the cooperation. Nevertheless, China, just like any other country, acts in its nation’s interest. Therefore, it is incumbent upon African countries to ensure that they demand more from the cooperation. In the end, to address China’s hegemony over Sino-African cooperation, Africa should prioritize the development of local content through technological and skill transfers, curb corruption, and build a critical mass of negotiators.
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